SparkCharge, a pioneer in mobile electric vehicle (EV) charging solutions, has raised $30.5 million to scale its off-grid Charging-as-a-Service (CaaS) network across North America. The funding includes a $15.5 million Series A-1 equity round led by Monte’s Fam and a $15 million venture loan facility from Horizon Technology Finance Corporation. This investment aims to accelerate the deployment of SparkCharge’s scalable EV charging services throughout the U.S., Mexico, and Canada.
Founded in 2017, SparkCharge offers a range of mobile and off-grid charging solutions designed to eliminate the need for traditional infrastructure. Their services cater to various sectors, including fleets, delivery services, events, original equipment manufacturers (OEMs), ports, transportation, autonomous vehicles, and rideshare providers. By providing rapid deployment of DC fast charging (DCFC) capabilities, SparkCharge addresses the challenges of EV charging in areas lacking grid infrastructure.
The company’s CaaS model includes three flexible formats: mobile battery charging units offering 80-300 kW DCFC, off-grid power hubs delivering 180-500 kW DCFC capable of charging multiple EVs simultaneously, and permanent EV infrastructure solutions that transition from mobile/off-grid setups to grid-connected systems. These offerings provide clients with adaptable and scalable charging options to meet diverse operational needs.
SparkCharge’s innovative approach has garnered support from various venture and strategic investors, including Collab Capital, Cleveland Avenue, Non-sibi Ventures, Elemental Impact, and MarcyPen. The recent funding round is expected to drive new partnerships across multiple mobility sectors and further enhance the company’s position in the EV charging industry.
The company’s commitment to providing accessible and efficient EV charging solutions aligns with the growing demand for sustainable transportation infrastructure. By leveraging mobile and off-grid technologies, SparkCharge aims to facilitate the widespread adoption of electric vehicles and support the transition to a cleaner energy future.
With this significant capital infusion, SparkCharge is poised to expand its footprint and continue delivering innovative charging solutions that address the evolving needs of the EV market. The company’s efforts contribute to the broader goal of reducing greenhouse gas emissions and promoting environmental sustainability across North America.
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